52,391 entities recognised as start-ups by DPIIT

As many as 52,391 entities were recognised as start-ups by the Department for Promotion of Industry and Internal Trade (DPIIT) as on July 14, Parliament was informed on Wednesday.

According to industry estimates, there are 53 unicorns currently in India, with a tentative valuation of Rs 1.4 lakh crore, Minister of State for Commerce and Industry Som Parkash said in a written reply to the Lok Sabha.

''As of July 14, 2021, 52,391 entities are recognised as start-ups by DPIIT,'' he said.

He also said that as on this date, over 5.7 lakh jobs have been reported by more than 50,000 start-ups.

The Startup India initiative is a flagship initiative of the government which aims to build a strong ecosystem for nurturing innovation and start-ups in the country.

In a separate reply, he said 17,583 companies were struck off as per the provisions of Section 248 of the Companies Act, 2013.

Replying to a question on exports, Minister of State for Commerce and Industry Anupriya Patel said that during the past three financial years, 22,099 firms have been placed in DEL (denied entity list) and penalties were imposed on 2,922 firms after adjudication.

''Whenever such misuse (of export schemes and concessions) is detected, the firms are placed in the denied entity list (DEL) and adjudication proceedings initiated. Investigations into such misuse are concluded within a reasonable time,'' she said.